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Ed Monton Member Level  Wednesday, 06/30/04 06:50:10 PM
Re: Ed Monton post# 1794
Post # of 5067 
More NAU news:

North American Gold Enters into Property Option/Joint
Venture for Gold Exploration in Finland

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jun 30, 2004) - North
American Gold (TSX.V: NAU) is pleased to announce it has entered
into a property option/joint venture agreement with Minmet plc
(Dublin: MNT.L) to develop and define gold projects in Finland.

Under the terms of the property option/joint venture agreement,
Minmet will contribute a total of eight properties owned 100% by
Minmet and a 17,000 sample proprietary geochemical database,
while North American will contribute one property owned 100% and
the first 100,000 Euros of expenditures to enter into a 50/50
joint venture within 10 months.

Highlights of the property package include:

Keskisenkulma (900 ha) and Kalliojarvi (900 ha): cover an ex -
GTK (Finnish Geological Survey) project where limited drilling
returned best intersections of 4.8 m grading 6.5 g/t Au; 4.3 m
grading 7.2 g/t Au; 3 metres grading 5.6 g/t Au and 1 meter at
15.6 g/t Au.

Jessiojarvi (900 ha): covers the Outapaa palaeoplacer gold
occurrence discovered in 1978 by GTK. Gold occurs in
palaeo-detrital form in the matrix of the conglomerate similar to
the Witwatersrand in South Africa.

Isovesi (900 ha): covers an area explored by the GTK with a total
of six drill holes returning up to 5.3 g/t Au across 3.7 meters
in the western part of the Tampere schist belt.

The joint venture will be integrating the Minmet geochemical
database with existing data from the GTK to help refine the
existing claim reservations and identify new prospects for
acquisition. Subsequent to North American's expenditure of
100,000 Euros, MinMet and North American will fund the joint
venture on a 50/50 basis with North American being the operator
at all times.

MinMet and North American are currently in joint venture on the
advanced Barsele project in northern Sweden where the
commencement of drilling was announced on June 21st.

Buck Morrow, President of North American Gold, said, "This
strategic association is a continuation of our excellent
relationship with Minmet and is a natural extension of our
existing operations in Sweden. Like Sweden, Finland is a
mining-friendly country with high mineral potential and a
favorable political and social climate. We are mobilizing field
crews immediately with a goal of identifying drill targets by
this fall."



Buck Morrow, President


North American Gold Inc.
Kareen McKinnon
Toll Free: 1-888-627-9378
Website: www.northamgold.com
The TSX Venture Exchange has not reviewed and does not take
responsibility for the adequacy or accuracy of this release.

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